Q - When selling a home "as is", is a Transfer Disclosure Statement still mandatory in California?
A - In a Standard sale, the seller is required to provide the buyer with a detailed Transfer Disclosure Statement even when the sale has an "as is" clause. If the seller fails to disclose any material fact affecting the value of the house or desirability of the property which are known to him or her, as well as knowing of any previous lawsuits against the property, the buyer has a legal remedy.
Q - I'm selling my house and at the same time , I'm buying a new one. I already received an offer for my house and I accepted it and I got my asking price and the buyer gave me a pre-approval letter. What's Next?
A - Ask the escrow company to schedule a concurrent closing, taking the money for the sale of your home and paying your down payment on the new property.
Another tip is to get all the information about the buyer, ask your agent to ask the buyers agent to allow authorization to speak with their lender. By doing so, the lender can talk to you and give you some assurance that the buyers are strong.
If you are able to request using the same Title and Escrow company, especially the same Escrow officer, it will make the transaction so much easier.
Another tip is to make sure you receive a signed release of all contingencies from your buyers and from the Sellers approving any inspections and repair costs in your purchase BEFORE you pay for an appraisal; that way you won't pay out any appraisal fees if anything goes "south" in the transaction. Find your next property at HomeFinderOC.com
A - In a Standard sale, the seller is required to provide the buyer with a detailed Transfer Disclosure Statement even when the sale has an "as is" clause. If the seller fails to disclose any material fact affecting the value of the house or desirability of the property which are known to him or her, as well as knowing of any previous lawsuits against the property, the buyer has a legal remedy.
Q - I'm selling my house and at the same time , I'm buying a new one. I already received an offer for my house and I accepted it and I got my asking price and the buyer gave me a pre-approval letter. What's Next?
A - Ask the escrow company to schedule a concurrent closing, taking the money for the sale of your home and paying your down payment on the new property.
Another tip is to get all the information about the buyer, ask your agent to ask the buyers agent to allow authorization to speak with their lender. By doing so, the lender can talk to you and give you some assurance that the buyers are strong.
If you are able to request using the same Title and Escrow company, especially the same Escrow officer, it will make the transaction so much easier.
Another tip is to make sure you receive a signed release of all contingencies from your buyers and from the Sellers approving any inspections and repair costs in your purchase BEFORE you pay for an appraisal; that way you won't pay out any appraisal fees if anything goes "south" in the transaction. Find your next property at HomeFinderOC.com
